Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.030%

Price spread now: Bybit against Hyperliquid−0.255%7-day average −0.187% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1561.561% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.255%, 7d avg −0.187%

Together, before fees+0.074%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.068% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.187%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BRETT	0.005881	0.0100	pay 0.0013% / 1h	52m 56s	$310K	$243K	3x
Short	Bybit BRETTUSDT	0.005866	0.0100	get 0.0050% / 4h	52m 56s	$2.1M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee BybitbpOrdersPrice spread, now −0.255%Rate

Funding earned: $0
Price spread: −0.255% → −0.187%: −$6.77
Slippage, 4 orders: −$136.14
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$162.91
Costs to cover: 1.561%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 7 min ago	2.57 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.13 bp	33.6 bp −$34	148.4 bp −$1,484	doesn't fit	doesn't fit

BRETT on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005864	−0.289%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	−0.714%	$61	$854	5.5x	as long as short
Hyperliquid BRETTlong	+0.0100%	1h	0.005881	long leg	$310K	$243K	3x
Binance BRETTUSDT	+0.0100%	4h	0.005879	−0.035%	$1.2M	$2.4M	50x	as long as short
Bybit BRETTUSDTshort	+0.0100%	4h	0.005866	−0.255%	$2.1M	$1.8M	25x
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005880	−0.017%	$133K	$261K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005866	−0.255%	$438K	$108K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005878	−0.051%	$12.6M	$207K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005878	−0.051%	$329K	$74K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005865	−0.272%	$1.4M	$638K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BRETT-USDT	+0.0100%	4h	0.005869	−0.204%	—	$1.4M	—	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005846	−0.592%	$59K	$108K	—	as long as short
BloFin BRETT-USDT	+0.0153%	4h	0.005879	−0.034%	$57K	$168K	50x	as long as short
Kraken Futures PF_BRETTUSD	+0.1330%	1h	0.005886	+0.079%	$44K	$70K	10x	as long as short